Vancouver Real Estate Market Statistics as of October 2013

Blog by Gaëtan Kill | November 4th, 2013

Vancouver Real Estate Market Statistics for October 2013

Attached are the Sales and Listings Statistics updated to the end of October 2013. Once again, activity in the market for this October was an improvement over October 2012 - with a 37% increase in units sold in Greater Vancouver. As well, units sold in October 2013 were up 7% compared to September 2013. In fact it was the strongest October for sales since 2009. Total Active Listings are down 11% compared to this time last year – demand is much stronger and product on the market is continuing to decrease both month over month and year over year. Changes in pricing and overall market conditions vary depending specific areas and product. Realistically the market is balancing and not overheating as some reports may suggest with these the increases in sales we are seeing. Pricing is still extremely important, generally new listings with better pricing are attracting more attention than those that have been on the market for some time.

Here’s a summary of the numbers:

Greater Vancouver:

Total Units Sold in October 2013 was 2,698 – up from 2,524 (7%) in September 2013, up from 1,970 (37%) in October 2012; New Listings in October 2013 were down 13% from September 2013; Month’s Supply of Total Residential Listings down to 6 Months (Balanced Market).

Vancouver Westside Residential:

Total Units Sold in October 2013 was 579 – up from 556 (4%) in September 2013, up from 420 (38%) in October 2012; New Listings in October 2013 were down 22% from September 2013; Month’s Supply of Total Residential Listings even at 5 Months (Balanced Market).

Vancouver Eastside Residential:

Total Units Sold in October 2013 was 288 – up from 281 (2%) in September 2013, up from 185 (56%) in October 2012; New Listings in October 2013 were down 20% from September 2013; Month’s Supply of Total Residential Listings down to 4 Months (Balanced Market to Seller’s Market).

North Vancouver Residential:

Total Units Sold in October 2013 was 221 – up from 163 (36%) in September 2013, up from 160 (38%) in October 2012; New Listings in October 2013 were down 15% from September 2013; Month’s Supply of Total Residential Listings down to 4 Months (Balanced Market to Seller’s Market).

West Vancouver Residential:

Total Units Sold in October 2013 was 110 – up from 94 (17%) in September 2013, up from 65 (69%) in October 2012; New Listings in October 2013 were down 22% from September 2013; Month’s Supply of Total Residential Listings down to 7 Months (Balanced Market).

Richmond Residential:

Total Units Sold in October 2013 was 327 – up from 321 (2%) in September 2013, up from 227 (44%) in October 2012; New Listings in October 2013 were down 16% from September 2013; Month’s Supply of Total Residential Listings even at 7 Months (Balanced Market).